Congo government proposes 23.2% budget cut for 2021
THE Democratic Republic of Congo's government has proposed to parliament a budget of 14.2 trillion Congolese francs ($6.9 billion) for 2021, a 23.2% decrease compared with the previous year, a draft document seen by Reuters has shown. The world's leading cobalt producer sees its economy growing 3.2% next year, the budget ministry document showed, after a projected contraction of 1.7% in 2020 caused by the economic shock of the coronavirus pandemic. The slimmed-down budget, which still needs to be agreed by parliament, is one of several pre-conditions set by the International Monetary Fund, which is considering the lender's first formal…